Kering: Oddo raises target price

(CercleFinance.com) - Oddo has confirmed its buy rating on the Kering stock and has raised its target price to 445 euros (vs.
430 euros).

"Given the operational momentum that we expect, we believe that the share's recent decline represents a buy opportunity for investors - at least in the near term."

Revenues totalled 15,477.7 million euros, up 25% as reported. Q4 figures are 2% above the consensus. H2 2017 operating income of 1,674 million euros exceeds the consensus by 5%.

Oddo expects 9% organic growth at constant exchange rates in 2018. It does not think that Gucci sales will decline - at least in H1 - the brand's performance has remained solid for several quarters now, with the brand having peaked, analysts add.




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